Top Commercial Regions Preferred by Tenants: Insights from Exclusive SiiLA SPOT Survey

The revival of office spaces is underway, albeit at a slow and steady pace. Signs of a resurgence in demand for commercial spaces are evident, with companies expanding their operations and adapting their headquarters to current corporate and organizational needs.

Exclusive data from SiiLA SPOT, a solution by SiiLA featuring the most comprehensive and extensive database of commercial properties available for sale or lease, unveils the preferred regions and cities tenants are considering when seeking commercial spaces, whether to kickstart a business, expand operations, or relocate.

Over the past year, São Paulo, boasting the largest inventory of corporate offices, has taken the lead in tenant searches, accounting for over 36% of inquiries on the SiiLA SPOT platform. To put things in perspective, São Paulo accounts for a stockpile exceeding 8.1 million square meters of office space distributed across almost 840 A+, A, and B class properties, as per SiiLA statistics.

Following closely are Brasília (DF) and Belo Horizonte (MG), constituting 6.4% and 4.9% of the search volume, respectively. The sustained adoption of the hybrid work model by companies might explain their interest in establishing operations outside the traditional SP-Rio axis. This trend is also influenced by the desire for a work-life balance, a movement that gained prominence, especially in the context of mental health, during the Covid-19 pandemic.

Brasília boasts 57 commercial buildings with a stock of approximately 735,000 square meters and a vacancy rate of 16.4%. Conversely, Belo Horizonte has a smaller volume, with 345,000 square meters and a vacancy rate of 11.7%.

Most Visited Commercial Properties

River One

Located in the Marginal Pinheiros region, this asset secured the largest leases in the second quarter of 2023 for high-end commercial buildings. Delivered in May 2021, it encompasses 18,000 square meters of private space and is owned by the RBR Asset Management's real estate investment fund, RBRP11.

Sky Galleria

In Campinas, São Paulo's interior, this office building managed by the Iguatemi group ranked second in platform access. Remarkably, it achieved full occupancy before completing its first year since inauguration.

Berrini 500

In the southern zone of São Paulo's capital, this corporate building designed by architect Ruy Ohtake holds the third spot among the most sought-after spaces. Also of high standard, it boasts over 12,000 square meters of private area and is owned by Barzel Properties.